tv Business Deutsche Welle March 29, 2019 10:15pm-10:30pm CET
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with exclusive. must see concerning parts of culture to ensure a. place to be curious minds. do it yourself networkers. subscribers don't miss out. lift in the limelight as it stocks surged on its very first day of trading but the company has yet to turn a profit is it taking investors for a ride. also on the show the latest round of u.s. china trade talks is over officials say they were constructive but haven't said how . bad news for boeing amid reports that the anti stealth the summit was on one that if you open air law. it's flight crashed. business i'm john elder
on in berlin thanks for joining us it's the first ride ailing company to go public lift sped past its bigger rival beating it all the way to wall street high demand for the offer it lifted lift stock it raised two point three billion dollars in the i.p.o. its market debut is expected to set the stage for are other companies preparing to get listed but some are warning of too much excitement too fast. friday's nasdaq trading bell rang at the california headquarters of the right sharing a lift almost being seems a turning point for the so-called sharing economy founded in twenty twelve companies now valued at more than twenty four million dollars in those early days we were told we were crazy to think people would ride each other's personal vehicles and now after more than one billion rides were able to look forward to
a world we've long imagined design last for cars and more for people. lift his outpaced it's right sharing rivals to become the first to list but the globally dominant is also expected to make its wall street debut soon valued at almost five times as much as left ny the company has had a smooth ride here though both have been accused of taking advantage of the gig economy to underpay drivers and have been blamed for increasing traffic congestion in cities lifts i.p.o. follows last week's denim clad day on the trading floor when levi's listed for the second time with as many as three hundred u.s. firms including uber thought to be preparing to go public the i.p.o. boom is well on the way. joining me now where the action is yen's carter on wall street good to see ends so as we've seen the lift comes with more than
a few image problems it's yet to turn a profit it's smaller than and yet the stock soared more than twenty percent in the first few minutes of trading why all that hype well i mean those right sharing companies they are very popular in the united states and if you look at the lift itself in the last quarter they had about one hundred million rights. to offer and they're more than double the good to one or two years ago so there is certainly growth and then if you look at the younger population a lot of those don't even have a drive first license not even to speak about a car czar there is some growth potential but if you talk about their costs certainly i mean the company almost had a loss of one billion dollars in the last year or so they are far away from profitable and we really have to wait and see if it's a good idea to buy shares of lift at this point now lift is also leading what many
are calling a stampede of the unicorn i.p.o. there seems to be a lot of investor euphoria involved with that is over confidence going to be an issue. well i mean we have some catch up to do partly because of the shutdown earlier this year we did not have any i.p.o.'s in the past couple of months though investors are hungry for new companies and overall the market environment seems to be pretty good we just finished the first quarter and for the s. and p. five hundred index it was the best first quarter since nine hundred eighty nine so the mood overall seems to be pretty good but yes if the market sentiment might turn then we will see if the hype has been too much we are waiting for companies like air b.n. b. we were. pollen two year just to name a few and if you look at life for example a good tough a year ago the company was worth about fifteen billion dollars now they have
a price take after the i.p.o. off about twenty five billion so has really fundamentally so much changed in six months old to increase the market valuation by ten billion dollars so maybe there is some over excitement on wall street right now optimism at the very least thank you very much hans carter on wall street u.s. and chinese trade negotiators have all wrapped up talks in beijing aimed at ending their trade dispute now that's no easy task the laundry list of differences to iraq ironed out is quite long the u.s. has accused china of unfair trade practices including cyber theft and forced technology transfers. what they discussed the night before is unknown but equity markets shot higher after negotiators exchanged smiles as they resumed talks on friday well. what i saw. there was a very. thin trigger
e secretary steve minucci unjoined chinese vice premier luke a and u.s. trade representative robert light has a for a photo and perhaps a chance to rearrange their negotiating positions before starting the day's talks the chinese commerce ministry says the two teams will spin no effort in the negotiations to end the months long trade war u.s. president donald trump said the two sides were close to a deal but officials have played down expectations of an imminent agreement u.s. insistence on keeping the first tranche of twenty five percent tariffs on fifty billion dollars worth of chinese imports could be a sticking point for a deal you is scheduled to travel to washington next week for the next round. well way has posted record sales exceeding eight hundred billion dollars a few seem to care the chinese tech giant has been the target of a u.s. led campaign to get while way tech bound in the west but while away has defended its commitment to security while dropping some choice words for the u.s.
government in the mix. huawei revenues topped one hundred billion dollars and twenty eighteen positive figures were the last thing on the agenda the news conference in beijing journalists wanted was taken washington urging allies not to use the firm's networks u.s. government doesn't trust the chinese government not a so that doesn't trust hallway. just one trait out of three years of my i think the us is the most powerful country in the world the u.s. has been the leader in many domains and the us government has the attitude of a loser i hope the american people the u.s. government can adjust its own attitude. to rao escalation with the arrest of monk one joe c.f.o. and daughter of group founder of enjoying faith in canada in december while ways taken legal steps filing a lawsuit against the u.s. over a ban on government agencies using its products always lawyer said fears beijing my competitor to spy were baseless and john homeland. if we install back doors or collect intelligence on behalf of others it's tantamount to committing suicide and
we have no intention of committing suicide. for the chinese government i believe they also hope our way continue to pay tax create employment and drive growth in the whole industry i don't think they prefer to use while we as a tool to attack others. while we are uninsured off the road with the usa income from its network business at the center of the espionage was down while we said it was a long term business and the effects will be felt in a few years' time. and in the latest turn in the ongoing investigation into the crash of an ethiopian airlines flight initial data have reportedly now shown that the anti stall system was activated shortly before the accident whether the system misfired has been a central question of the probe there's been no comment so far from the plane maker boeing it's continued to insist the mac series is safe. the wall street journal reports the m.
cas software aboard ethiopian airlines flight three hundred two bound for nairobi activated automatically before the plane nose dived into the ground while one hundred fifty seven people on board die and. the family of one passenger from rwanda has filed a lawsuit in chicago federal court alleging boeing defectively designed the automated flight control system the m. cas flight control feature has also been implicated in a fatal crash by a lion air flights in indonesia last year many analysts suspect that in both cases the software repeatedly pushed the nose of the plane down despite the pilots' attempts to correct the move. the world's largest tourism company is under pressure following the grounding of all those boeing seven three seven x. it's after the two crashes germany's two we expect profits to fall by seventeen percent this year it's expecting a lot of cancellations and warns its forecast will be even worse if the planes
aren't back in the air by july that's key season plane maker boeing is working on a software patch to eliminate the technical glitches that supposedly led to the crashes. it finds food shortages political and certainty and power outages the people of venezuela are having to deal with a currency that has become almost worthless colombian puzzles in u.s. dollars and even euros are increasingly being used for cash transactions but one area is finding another way through the money madness. this is carmen and today this is her purse in the venezuelan state of kwara co coffee is the new cash common is using it to buy medicine for her livestock with inflation running above two million percent a year venezuelan bolivars discussed the worth having. twenty eroded while joe and his family also live inquiry they brew their own coffee but over in the capital caracas the cost of a cup paid for with cash increased by more than two hundred thousand percent last
year. even with a minimum wage you can't buy anything. eduardo also uses coffee to buy a sensuous it's a system that appears to be working inquiry into the beans value is relatively stable and the country has more than enough of them to things that definitely come to be set for the venezuelan bolivar. that's a business update thank you for watching.
joining us from africa. or link. two exceptional stories and discussion from oh news a visit i want website debited comes to africa join us on facebook w africa. sarno just couldn't get this song out of his head. musicologist began searching for the source of these captivating sounds. and found that deep in the rainforest in central africa. the bulk of people. hanging in the going out. and looking bullock was able. to make the anyone. money leave that. he was so fascinated by their culture that he stayed. only a promise to. the jungle and return to the concrete and glass jungle. the
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